Practice Quiz

FINRA Series 6

Category - Series 6

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Any compensation earned by a broker-dealer and its registered representative on the sale of mutual fund shares must be returned to the fund’s underwriter if the purchaser decides to redeem his shares within:
  1. 30 days.
  2. 1 week.
  3. 7 business days.
  4. 5 business days.
Explanation
Answer: C - Any compensation earned by a broker-dealer and its registered representative on the sale of mutual fund shares must be returned to the fund’s underwriter if the purchaser decides to redeem his shares within 7 business days.
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